Channel Resources Files Third Quarter Financial Statements, Extends Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2009) - Channel Resources Ltd. (the "Company") (TSX VENTURE: CHU.V) announces that it has filed its unaudited interim financial statements for the third quarter ended June 30, 2009 on the SEDAR system, together with its management discussion and analysis (MD&A) for the same period. The statements and MD&A are also available from the Company's website, at www.channelresources.ca.

The Company also announces that, subject to TSX Venture Exchange approval, it has extended the term of warrants issued pursuant to a private placement announced August 21, 2007. The warrants were issued in two closing tranches at an exercise price of C$0.30 and are to be extended by two years as follows:

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Private Placement      Original Warrant       Number of
Tranche Closing Date   Expiry Date             Warrants   New Expiry Date
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September 10, 2007     September 10, 2009     5,131,670   September 10, 2011
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October 31, 2007       October 31, 2009       2,243,334   October 31, 2011
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts

Colin McAleenan
Channel Resources Ltd.
President & CEO
604.684.7098

Cyrus Ameli
Channel Resources Ltd.
CFO & VP Corporate Affairs
604.684.7098
604.684.7079 (FAX)
info@channelresources.ca
www.channelresources.ca